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610 E Pine St, Seattle, WA 1617 Boylston Ave, Seattle, WA
Pine & Boylston Portfolio
Asset ClassMixed Use, Retail, Office
100% Leased Two-Building Multi-Tenant Investment Opportunity
overview of deal

Overview

Newmark presents Pine & Boylston, a two-property portfolio offering in Capitol Hill's Pike/Pine corridor: 610 E Pine Street, a 100% leased, 21,562 SF mixed-use asset anchored by Enterprise Rent-A-Car and Foundations, and 1617 Boylston Avenue, a 14,909 SF single-tenant NNN investment occupied by Henry's Gymnasium through 2035 with 3% annual escalations. Together the properties total 36,471 SF, combining secure cash flow with near-term mark-to-market upside, four blocks from the Capitol Hill Link light rail station. The submarket's strength is underscored by Seattle's #4 global ranking in Oxford Economics' 2026 Global Cities Index, trailing only New York, London, and Paris.

Investment Highlights

Cap Rate
7%
Square Feet
36,471
# Buildings
2
% Leased
100%
Net Operating Income
$1.22 Trillion
  • 100% Leased | 36,471 SF | Across Two Assets
  • At the Heart of Pike/Pine Corridor: 2.1M Annual Visits Within a 500-Foot Radius (Placer.ai)
  • Walk Score 99 | Transit Score 96: ±4 Blocks to Capitol Hill Link Station
  • 335,000+ Jobs Within 1 Mile: Direct Access to CBD, South Lake Union & Amazon’s Global HQ
  • Long-Term NNN Fitness Anchor: Henry’s Gymnasium | Expires Nov 2035
  • Enterprise Rent-A-Car: National Credit Tenant | Leased Through 2035
  • Foundations — Seattle’s Premier Startup Community: Sole Office Tenant | Recent Expansion
  • All Tenants have Contracted Rental Increases
  • Supply-Constrained Submarket High Barriers to Entry | NC3P-75(M) Zoning
  • Offered as a Portfolio or Individually

TERMS OF THE OFFERING

Pine & Boylston Portfolio Combined
Purchase Price
17,490,000
Cap Rate
7.00%
Portfolio Year 1
$1,224,058
Portfolio WALT
6.52 Years
Building Size
36,471 SF (Across 2 Assets)
Land Size
0.33 AC (Across 2 Parcels)
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Can Be Purchased Together or Separately
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610 E Pine StSeattle, WA 98122

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